https://www.taxtmi.com/caselaws?id=404790 A Section 7 insolvency application must be filed within limitation computed from the date of default, and only a valid acknowledgement within time can extend limitation under the Limitation Act. Communications relied upon here were either time-barred or insufficient, so the application was barred by limitation and the admission order was set aside. Pendency of winding up proceedings and appointment of an official liquidator did not bar initiation of proceedings under the Insolvency and Bankruptcy Code, because a Section 7 proceeding is independent and the Code overrides inconsistent laws under Section 238. en-us Tue, 02 Mar 2021 00:00:00 +0530 Thu, 04 Mar 2021 08:26:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404790 A Section 7 insolvency application must be filed within limitation computed from the date of default, and only a valid acknowledgement within time can extend limitation under the Limitation Act. Communications relied upon here were either time-barred or insufficient, so the application was barred by limitation and the admission order was set aside. Pendency of winding up proceedings and appointment of an official liquidator did not bar initiation of proceedings under the Insolvency and Bankruptcy Code, because a Section 7 proceeding is independent and the Code overrides inconsistent laws under Section 238. Case-Laws Insolvency and Bankruptcy Tue, 02 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404790